The Growth OfThe AI Virtual Assistant
Thanks to tech giants, virtual assistants have seamlessly integrated into our lifestyle today. We can hold simple conversations with these AI-based assistants, and even automate mundane tasks like making a call, sending an email, etc.
Apart from personal assistants, chatbots form an important application of AI in e-commerce. While they started as an exciting application due to the way they automated customer service, questions regarding their practicality have been raised. Chatbots can utmost answer a couple of frequently asked queries. Often, customers look for ways to surpass the chatbot and get in touch with an actual representative. However, that’s not true with the solution developed by Clinc.
Taking chatbots to the next level
AI scientists and researchers have been working on improving the quality of automated customer service. For instance, consider Finie – the virtual assistant developed by Clinc. It is an AI-based solution built especially for the finance sector.
Modern virtual assistants like Finie are much more capable than chatbots. Unlike chatbots, these virtual assistants can resolve customer queries without letting them feel like they are interacting with a machine.
Automation in the finance sector
What are the tasks that can be automated through virtual assistants? Some of the tasks include checking bank statements, locating ATMs, activation of new credit or debit cards, and carrying out transactions. Also, advanced personal assistants can understand messy language and implement conversational healing. Since the system remembers key details from each conversation, it can even retrieve those details in future, if the need arises. Due to these factors, it is expected that AI will help customers have a seamless experience in the finance sector.
What are the gains?
Why are companiesincreasingly investing in AI-based research? It is because AI-based products promise a world of new possibilities. For example, let us consider a virtual assistant that can mimic a human customer representative. If it is fully functional, what does the bank or any other financial institution gain?
An automated system will resolve customer queries more quickly than a customer representative. Thus, customers will have lesser waiting times. If more customers have a pleasant experience, they are likely to continue using the service. Thus, the firm can achieve a higher customer retention rate.
Also, the company can cut the cost of recruiting and maintaining a customer service team. Overall, it is a win-win – the customers get the best service while the company can offer excellent services without recruiting more members to its workforce.
Clinc Knows The art of securing capital.
The funding for research and development ventures of clinc has increased since 2015 from various collection of sources; the AI solution earned A grant from the national science foundation worth $225,000, and a host of private investors from all over the US providing funding of $1.2 million
$52 million series B was funded for future AI development projects in 2019 by the company.
Awarding clinc technology
The virtual assistant platform of Clinc was named the winner of the Best natural language generation platform in August 2020 in the third annual AI breakthrough awards programme. In 2019 clinc was awarded a technology leadership award for artificial intelligence from Frost and Sullivan.
The future of clinc artificial intelligence
After its incorporation in 2015, everyone can see that this technology is expanding and growing continuously. This conversational AI pioneer has only increased its technology to define it better each day. The technology is a hundred percent focused on becoming the leading AI technology internationally for the financial services sector. This technology eyes on a much better tomorrow.
The new CEO of Clinc and the team of this technology serves multiple verticals, and soon the entire conversational world will be able to use the technology of Clinc. The headquarters of Clinc is still situated in Ann Arbor, MI. The technology employees are a little less than a hundred, but still, the growth of this technology is unstoppable and continues to improve and grow with new ideas every day. There are currently lots of chances for people to join this team.
The growth and research of this technology had just begun as AI can clarify and evolve at once. Clinc is an innovative industry that creates natural language technology, answers every question, and seamlessly makes the conversation. Clinc has never stopped making future goals, including customer needs in mind, and will continue to grow with innovative ideas and user-friendly technology.